Fund managers warn government over net zero target

36 fund houses

Fund houses managing £1.5trn in assets have written to the government warning that ministers' confusion around its policymaking could cut off investment required to hit its net zero target by 2050.

One point raised in the letter mentioned a ban on new petrol and diesel cars by the end 2030. Doubt has been cast on this policy by Prime Minister Rishi Sunak in recent weeks, while cabinet minister Michael Gove subsequently described it as "immovable". Climate Change Committee warns UK has 'lost' its global net zero leadership position Confusion around this and other green policies could stop the finance sector from investing the £50bn to £60bn a year needed to hit the emissions goal, the fund houses said in its report. The letter, sent to the prime minister, has been signed by 36...